(Marketingmagazine.com.my) – Global brand valuation consultants, Brand Finance recently released The Banker / BrandFinance® Banking 500; an annual study which ranks the world’s biggest banks according to their brand value.
CIMB who manage to retain their top position from last year carrying a brand value of USD$2.041 billion, which is a 7.44% increase from 2013. CIMB could very well overtake UOB and OCBC for the top-tier ASEAN rungs next year. Maybank comes in a close second to CIMB with a minimal USD$5 million separating the two.
Overall, Malaysian banks have been successful with both CIMB and Maybank entering the USD$ 2 billion+ category. A total of 56% of the total bank brands value in Malaysia is contributed by CIMB and Maybank with an even split of 29% each.
Samir Dixit, Managing Director of Brand Finance (APAC) commented on the results, “Malaysian banks have done well to increase their combined brand value lead over Malaysia and other ASEAN countries with significant contributions from both CIMB and Maybank.”
“Both banks are in a strong position to be in the top three ASEAN Banking brands to challenge the Singapore banks”, he added.
There are seven Malaysian banks on the global ranking of the most valuable banking brands – CIMB’s brand value showed an increase of over USD$ 1.4 billion, Maybank’s brand value grew by USD$ 479 million, a 30.72% increase from last year and the third-ranked Public Bank is up USD$ 64 million.
Maybank and RHB both improved their ranking in an absolute sense; the only two brands to climb up the global ranks.
In fact, all Malaysian banks had an increase in brand value except for Ambank – they lost 13.34% (USD$75 million) of its brand value, causing a drop of 25 places in ranking.
According to the results, the total value of Malaysian bank brands is up over 10%, but this figure is quite low in comparison to the 50% total value increase of just three Singapore bank brands.
The combined value of Malaysian banking brands come up to USD$ 7.11 billion – ranking us at 2nd place in the ASEAN region after Singapore.
Thailand comes in as runner-up with a combined value of USD$ 5.25 billion followed by Indonesia with USD$ 5.08 billion and the Philippines with USD$ 1.38 billion.
The world’s most valuable bank brand globally is the American Wells Fargo, retaining their No. 1 title for another year this 2014 with a total brand value of over USD$ 30 billion. In second place is HSBC who showed a brand value growth of USD$ 4 billion and Swiss institution UBS occupies the third tier with an increase of USD$ 3.35 billion.
Globally, China has made an impression; its banks contributing a total of nearly USD$ 19 billion and now three Chinese banks have claimed positions in the top ten rankings.
*conversion by date
Brand Finance is a global leading brand valuation agency. They calculate the economic value and the contribution of the brands and the role it plays in the success of an organisation.Brand Finance is the only company in the world to publish brand rankings based on ISO Compliant brand values. The ISO 10668 global standard provides a consistent, reliable approach to brand valuation that emphasises transparency and objectivity.